Prudential Financial Inc. Has $89.12 Million Stock Holdings in Veralto Co. (NYSE:VLTO)

Prudential Financial Inc. raised its holdings in Veralto Co. (NYSE:VLTO) by 12.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 875,050 shares of the company’s stock after acquiring an additional 95,386 shares during the quarter. Prudential Financial Inc. owned approximately 0.35% of Veralto worth $89,124,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Nordea Investment Management AB increased its holdings in Veralto by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 3,923,747 shares of the company’s stock valued at $400,928,000 after purchasing an additional 1,009,170 shares during the period. State Street Corp increased its stake in shares of Veralto by 9.8% in the third quarter. State Street Corp now owns 9,599,499 shares of the company’s stock valued at $1,074,654,000 after buying an additional 860,608 shares during the period. Principal Financial Group Inc. raised its position in shares of Veralto by 207.2% during the third quarter. Principal Financial Group Inc. now owns 1,122,898 shares of the company’s stock worth $125,608,000 after acquiring an additional 757,389 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock worth $654,232,000 after acquiring an additional 558,393 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Veralto in the fourth quarter valued at approximately $51,986,000. Institutional investors own 91.28% of the company’s stock.

Insider Activity at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 10,414 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $1,045,044.90. Following the transaction, the chief executive officer now directly owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,467 shares of company stock valued at $1,150,366. 0.31% of the stock is owned by corporate insiders.

Veralto Stock Performance

Shares of Veralto stock opened at $98.27 on Tuesday. The business has a 50-day simple moving average of $99.93 and a 200 day simple moving average of $104.27. Veralto Co. has a one year low of $85.91 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.92 and a quick ratio of 1.69. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, research analysts anticipate that Veralto Co. will post 3.66 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.11 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.45%. Veralto’s dividend payout ratio is presently 13.17%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VLTO shares. Citigroup lowered their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group initiated coverage on shares of Veralto in a research note on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus cut their price target on shares of Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lowered their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.50.

About Veralto

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.